The subject dreamed that she was standing where two roads separated. One was broad and bright and beautiful, and many people she knew were going that way. The other road was the rocky path, quite dark, and no one was going that way, but she had to go. And she said, “Oh, why must I go this way? Will no one go with me?” And a voice replied, “I will go with you.” She looked around, and there were some tall black figures; they all had names across their foreheads in bright letters, and the one who spoke was Disappointment; and all the others said, “We will go with you,” and they were Sorrow, Loss, Pain, Fear, and Loneliness, and she fell down on her face in anguish. Now an analysis of the antecedent thought of this subject and a knowledge of her circumstances and mental life, though we cannot go into them here, make it perfectly clear that as a fact, whether there was any causal connection or not, this dream _was_ a symbolic expression of those thoughts. The rocky path has been shown to be symbolic of her conception of her own life entertained through years—the other road symbolic of the life longed for and imagined as granted to others. Likewise the rest of the dream symbolized, in a way which any one can easily recognize, the lot which she had in her disappointment actually fancied was hers. The thoughts thus symbolized had been constantly recurring thoughts and therefore had been conserved. They were reproduced in the dream, not in their original form, but translated into symbols and an allegory. Something must, therefore, have effected the translation. In other words, the dream is not a recurrent phase of consciousness but _an allegorical fabrication_ which expresses these thoughts, not literally as they originally occurred, but in the form of an imaginative story. Now the similarity of the allegorical dream thoughts to the original thoughts can be explained only in two ways: either as pure chance coincidence, or through a relation of cause and effect. In the latter case the dream might have been determined either by the specific antecedent thoughts in question—those revealed as memories in the analysis, or both series might have been determined by a third, as yet unrevealed, series. For the purposes of the present problem it is immaterial which so long as the dream was determined by some antecedent thought. The very great frequency, not to say universality, with which this same similarity or a logical relation with antecedent thoughts is found in dreams after analysis renders chance coincidence very improbable. We must believe, therefore, that the dream was determined by antecedent experiences. It is beyond my purpose to enter here into an exposition of the theory of the mechanism of dreams, although I shall touch upon it later in some detail in connection with subconscious processes. We need here only concern ourselves with this mechanism so far as it bears upon the principle of conservation. Suffice